Investors in the box seat amid surprise surge in rental demand for Brisbane apartments

first_imgA new report from independent consultancy Urbis has found tenant demand for new inner Brisbane apartments jumped in the first quarter of this year.The survey revealed a vacancy rate of just 1.6 per cent across 22 apartment projects in inner Brisbane — tightening 0.6 per cent from the previous quarter.The rebound in the rental market after years of apartment oversupply has even surprised experts, who say the level of demand is greater than expected. Place Advisory director Lachlan Walker.Place Advisory director Lachlan Walker said it was a good time for investors to be researching the market and looking to buy.“I’m surprised the rental market has recovered so fast, and even more surprised supply’s dried up so fast,” Mr Walker said.“That’s the one thing that’s held Brisbane back these last three to four years — the high level of supply — but that is quickly disappearing.“I think we’re in for a supply shortage over the next six to nine months … that’s why we’re seeing some rental growth and vacancy rates starting to drop.”It comes at a time when borrowing money has never been cheaper, with interest rates being cut to an all-time low of 1 per cent this week.Independent real estate group Position Property has a vacancy rate of less than 1 per cent on its 800 rental properties in the Brisbane region. More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoPosition Property director Richard Lawrence.Mr Lawrence said the situation was likely to intensify in the months ahead given the expected fall in the number of new apartment projects starting construction, leading to a reduction in availability of high quality apartments.“Anyone currently renting should seriously consider purchasing a new apartment if they can afford it as they will likely be paying higher rents within the next 12 months,” he said. MORE: Bargain rental suburbs revealed An image of the Newstead Series residential development.A new luxury apartment and townhouse development at Newstead, Newstead Series, has put up the no vacancy sign with leasing agent Jones Lang LaSalle reporting a waiting list of people seeking one and two bedroom apartments.There is a waiting list for the luxury Newstead development, Lucent Gasworks, and in South Brisbane, the first stage of Pradella’s SkyNeedle Apartments also has a zero vacancy rate and a waiting list of prospective tenants. Inside one of the apartments in the SkyNeedle tower in South Brisbane.“I believe we have reached a real turning point where the Brisbane property market is returning to normal supply and demand conditions,” Mr Lawrence said.“Smart investors who purchase apartments in places where couples, young families and downsizers want to live will reap the rewards in terms of achieving higher rents, good quality tenants and low vacancy rates.“New arrivals from interstate who might normally opt to rent for a few months to get a feel for their new city would also be well advised to consider buying instead to avoid the tougher rental market conditions ahead.” Newstead Series is comprised of four buildings named after Australia’s famous wool presses. Pictured is the inside of an apartment in The Donaldson. Many inner Brisbane apartment buildings have put out the ‘no vacancy’ sign to renters.Position Property director Richard Lawrence said property managers in some areas were advising people to submit rental applications without waiting until they had seen the home.“We are seeing a general tightening in the rental market across the board, including in locations previously reported as having excess new apartment stock available,” Mr Lawrence said.“This is the case both in inner city locations such as South Brisbane and Newstead, and out to middle ring suburbs such as Chermside on Brisbane’s north side and Upper Mount Gravatt on the south side.”center_img The first stage of Pradella’s iconic SkyNeedle Apartments at South Brisbane has a zero vacancy rate and waiting list for tenants. Rental demand for Brisbane apartments has rebounded. Picture: Mark Cranitch.A SURPRISE surge in tenant demand for apartments combined with falling interest rates and rising rents looks set to lure property investors back to the Brisbane market after years in the doldrums.The apartment rental squeeze is getting so tight some agents are now advising prospective tenants to submit applications before they have even inspected properties — or risk missing out.At the same time rents are on the rise due to a combination of interstate migration, steady economic growth and a decline in new apartments coming to market. RELATED: This apartment probably earns more than you The private dining room and pool at Lucent Gasworks.Urbis property economics and research director Paul Riga also said interstate migration had played a part in the increase in demand for rentals.“Anecdotal feedback from participants indicated that inquiries from interstate remained solid, and certainly up from the same time last year,” he said. “Apartments provide these tenants the flexibility of being able to settle into employment and get to know the city and it’s different precincts.” Lucent Gasworks, a 17-storey residential tower created by Cavcorp, has a waiting list for prospective tenants. “Similarly, local investors who may have been sitting on the sidelines can now buy with greater confidence knowing that there is an abundance of tenants available for the right property and rental yields are strengthening.”The pipeline of new infrastructure coming to inner Brisbane, including Brisbane Metro, Queens Wharf and the proposed South Bank redevelopment, is encouraging new buyers to choose new apartments over established houses.last_img read more

1-0 WIN: Sserunkuma returns to haunt Cape Verde

first_imgTeamPldWDLGFGAGDPts  South Africa105141214−216 Cranes at the Nations Cup in January, 2017. A new look team beatCape Verde Sunday.Cape Verde ??   0 Uganda ??     1Tanzania 1 Lesotho 1Geoffrey Sserunkuma returned to haunt Cape Verde, scoring the lone goal in the 83rd minute as Uganda beat Cape Verde in their delayed opening match of the 2019 Nations Cup qualifiers.Second half substitute Sserunkuma tapped in late in the game to secure a flying start for Uganda Cranes away in Praia.The current KCCA top marksman was part of then Cranes coach Mike Mutebi’s side that fell 1-0 in Cape Verde in 2004 but scored Uganda’s goal in their win in Kampala in 2005.“The Cape Verdeans play a flowing game but we managed to keep them silent at Namboole hence the win when I scored. However they are home on Saturday but we are hopeful of getting three points” Serunkuma,34, told www.fufa.co.ug ahead of Sunday’s 2019 Africa Cup of Nations qualifier.“I understand their style of play and when to catch them off guard. We are confident with the players we have here,”  added Sserunkuma.#EliminatoriasCAN2019 ?? v ?? [FT 0-1] Buena combinación colectiva y definición de Sserunkuma para la victoria de #Uganda ante #CaboVerde pic.twitter.com/mHR2lcH6fA— Camino a Rusia (@caminoarusia) June 11, 2017Tweets about @OfficialFUFA ***MATCH PREVIEWUganda Cranes face Cape Verde for the first time in over a decade, fortunes for both teams having changed a lot since they last met.Cape Verde were upstarts when they beat Cranes 1-0 in 2004 and lost 1-0 in Kampala in 2005 in the 2006 World Cup and African Cup of Nations qualifiers  – their first and only previous encounter.  DR Congo104421410+416  Burkina Faso104151413+113 Boosted by many Portugal based players – as Cape Verdeans abroad are more numerous than the population of the islands themselves – the country built their reputation in the coming years, climaxing with their maiden qualification for the Nations Cup finals in 2015.They since fell from grace,  failing to make it to the 2017 Nations Cup finals followed by 2-0 defeats to Senegal and Burkina Fasso last year in World Cup qualifiers. They have played a single game this year, a 2-0 defeat of Luxembourg in a friendly in March.Uganda on the other hand have since made history of their own, returning to the African Cup of Nations finals for the first time since 1978.Uganda’s appearance at Gabon 2017 has been followed by three friendly matches, all drawn against Kenya, Ethiopia and Senegal ahead of today’s match.Cranes also have in their line-up a survivor that the Cape Verde team will know well – Geoffrey Sserunkuma.The current KCCA top marksman was part of then Cranes coach Mike Mutebi’s side that fell 1-0 in Cape Verde in 2004 but scored Uganda’s goal in their win in Kampala in 2005.“The Cape Verdeans play a flowing game but we managed to keep them silent at Namboole hence the win when I scored. However they are home on Saturday but we are hopeful of getting three points” Serunkuma,34, told www.fufa.co.ug ahead of Sunday’s 2019 Africa Cup of Nations qualifier.“I understand their style of play and when to catch them off guard. We are confident with the players we have here,”  added Sserunkuma.The match was pushed forward by 24 hours due to a flight hitch for the Uganda Cranes team that was flying in from Dakar, Senegal.Confederation of African Football (CAF) communicated to both teams Saturday afternoon.The‎ Group L Day One clash between Cape Verde and Uganda, originally scheduled for Saturday, 10 June 2017 in Praia has been postponed for 24 hours. The decision was taken by the Organising Committee for the Total Africa Cup of Nations due to the difficulties faced by the Ugandan team in arriving in Praia. The ‎flight of the Ugandan team didnot take-off as expected from Dakar (Senegal), where they held a training camp due to a technical problem, which constitutes a case of force majeure. The match will therefore take place on Sunday, 11 June 2017 at the same‎ time and venue with the same officials.When Uganda last met Cape Verde. Group 2 of 2006 Nations Cup/World Cup qualifierscenter_img  Ghana10631174+1321  Uganda10226615−98  Cape Verde10316815−710 Share on: WhatsApp Pages: 1 2last_img read more

Wildcats eager to raise the curtain on high school volleyball playoff season

first_img“It was another very impressive weekend,” said Wildcats skipper Joe Moreira.“We won, but more importantly we played really well throughout.”Mount Sentinel finished second in the pool play to Selkirk before defeating Prince Charles Comets of Creston 2-0 and outlasting Mount Baker Wild of Cranbrook in a best-of-five semi final.Mount Sentinel, ranked fourth overall behind Immaculata of Kelowna, Southridge of Surrey and third-ranked Langley Christian in the most recent BC AGirl’s Volleyball poll, open the Kootenay finals Friday in front of the student body against Fernie Falcons.The tournament then shifts to Selkirk College in Castlegar.There the Wildcats then play Boundary Central of Midway and Sparwood before Saturday’s playoff round.The Kootenay Championship final is set for 2:45 p.m. at Selkirk College Gymnasium in Castlegar with the winner representing the zone at the provincial tournament November 27-29 in Kelowna.Immaculata of Kelowna is the host school. The dress rehearsal is over for the Mount Sentinel Wildcats.Now comes the real test in front of a live audience as the Cats enter the playoffs in the single-A Girl’s Volleyball season beginning with the Kootenay Championship zone tournament this weekend at Mount Sentinel.Mount Sentinel tuned up for the provincial run by capturing the title at the Selkirk Storm tournament Saturday in Kimberley.The Cats played with confidence in defeating host Storm 3-1 in the best-of-five final.last_img read more

Clemson’s Shaq Lawson On Notre Dame: “They Weren’t Ready For This Environment”

first_imgShaq Lawson gets interviewed after Notre Dame game.shaq lawson notre dame post gameHeading into Saturday’s contest between Clemson and Notre Dame, there was a decent amount of banter between the two schools – especially from a few members of the Tigers’ defense and the Fighting Irish’s offense. It apparently didn’t end with the game’s final whistle.Following Clemson’s 24-22 victory, defensive end Shaq Lawson told reporters that he trash talked Notre Dame wideout Will Fuller following the Tigers’ failed two-point conversion. He also said that Notre Dame wasn’t “ready for the environment’ at Clemson.Check it out, via TigerNet.com:Clemson, at 4-0, now has the inside track on a playoff berth, should it keep winning. If that happens, the world will be seeing a lot more of Lawson.last_img read more

Photo: Jim Harbaugh Was Photobombed By Larry The Cable Guy While Taking Picture With Kenny G

first_imgMichigan Wolverines head coach Jim Harbaugh shouts towards an official during the first quarter of the game against the Penn State Nittany Lions.Jim Harbaugh keeps incredible eclectic company. After hosting a wide-range of athletes and celebrities like Derek Jeter, Migos, and Jim Leyland at Michigan’s massive National Signing Day Event, the Michigan head coach has spent time with Willie Mays and Justin Timberlake. A few of those groupings are strange, but nothing tops being photobombed by comedian Larry The Cable Guy while taking a picture with saxophonist Kenny G during an event at Pebble Beach.Hell ya that’s @officialkennyg and @GitRDoneLarry pic.twitter.com/T9ormn42RD— Coach Harbaugh (@CoachJim4UM) February 13, 2016Bill Murray and Toby Keith were also around.Pebble Beach is how you think it is, Awesome! @GitRDoneLarry @TobyKeithMusic pic.twitter.com/UoOCuoC0Kg— Coach Harbaugh (@CoachJim4UM) February 13, 2016Harbaugh lives a pretty interesting life in the off-season.[SB Nation]last_img read more

JUST FOR LAUGHS ANNOUNCES ITS FINAL GALA HOST GALA LINEUPS

center_img Advertisement Advertisement THE JUST FOR LAUGHS FESTIVAL PRESENTED BY VIDEOTRONIN ASSOCIATION WITH LOTO-QUÉBECThe Just For Laughs Festival would like to thank its public partners: Government of Canada, Destination Canada, Gouvernement du Québec, City of Montréal and Tourisme Montréal for their support.The Just For Laughs Festival runs from July 12th-31st, 2017 in Montreal, Canada.FIND US ON SOCIAL #JFLMTLFacebook: @justforlaughsTwitter: @justforlaughsInstagram: @justforlaughs + New Solo Shows Added!Our last Gala host this year is Lilly Singh!Canadian comedian, entertainer and YouTube sensation Lilly Singh (aka IISuperwomanII to her 11 million subscribers worldwide) first broke out into the comedy ether via her inspirational YouTube videos. Now she has appeared on The Tonight Show with Jimmy Fallon, in feature films like Bad Moms, collaborated with big names such as Seth Rogen, Selena Gomez, Dwayne “The Rock” Johnson and Priyanka Chopra, and has written a New York Times Best Selling Book, entitled How to be a Bawse: A Guide to Conquering Life.  This Forbes 30 under 30 nominee is not only a successful entrepreneur, but she is a comedic force to be reckoned with. Don’t miss her star-studded Gala on  Sunday, July 30, 7:00 PM at Salle Wilfrid-Pelletier at Place des Arts. Facebook Just For Laughs is presented by Videotron, in association with Loto-Québec.Videotron presents OFF-JFL & Zoofest in collaboration with Pabst Blue Ribbon.Tickets on sale now!For tickets by phone, online or in person:The Just For Laughs Box Office, 514-845-2322, hahaha.com presented by VideotronLooking for the best way to experience the Just For Laughs Festival? Get a JFLMTL Pass! Available passes include: the JFL 2-Show Pass for $99.99, 3-Show Pass for $139.99, and 5-Show Pass for $215. Each pass includes one free ticket every day from July 25th-29th some restrictions apply).last_img read more

Walmart moves into premium fashion with Lord Taylor partnership online

first_imgTORONTO – Discount retailer Walmart says it will soon offer premium Lord & Taylor fashion brands on its American website.Walmart says the flagship Lord & Taylor online department store is expected to launch on Walmart.com in spring 2018.Spokeswoman Denise Incandela says the company’s goal is to create a premium fashion destination as the chain’s customers are searching its website for higher-end items.She says Walmart is starting with fashion as it expands its online business to include specialized and premium shopping experiences.The company says Lord & Taylor will be able to reach exponentially more shoppers through a dedicated store on Walmart’s website and app than through its own online presence.The Hudson’s Bay Co. (TSX:HBC) acquired Lord & Taylor, an American department store founded in 1826 that now has 50 locations in the U.S., in 2012.last_img read more

Kinross shares fall amid request for talks by government in Mauritania

first_imgTORONTO – Shares of Kinross Gold Corp. fell more than 10 per cent in trading Wednesday as the gold miner said the government in Mauritania has requested talks regarding its activities in the country.The Canadian gold miner, which is near completion of its Tasiast mine in Mauritania, said its application to convert its Tasiast Sud exploration permit into an exploitation permit was recently rejected by the government.Kinross said the government rejected the conversion application because it failed to meet feasibility criteria, but that the gold miner disagreed with the decision.Since then, Kinross said it has received a letter from the government reaffirming the rejection and seeking “mutually beneficial discussions with respect to all of the company’s activities in Mauritania.”Kinross chief executive Paul Rollinson says the company is assessing the request.The drop in the stock came despite a better-than-expected profit for its most recent quarter.After the close of markets Tuesday, Kinross, which keeps its books in U.S. dollars, reported a profit of US$106.1 million or eight cents per diluted share, down from $134.6 million or 11 cents per diluted share the year prior.On an adjusted basis, Kinross said it earned 10 cents per share, up from two cents a year ago. Analysts on average had expected a profit of a nickel per share, according to Thomson Reuters Eikon.Kinross produced 653,937 attributable ounces of gold in the quarter, down from 671,956 gold equivalent ounces a year ago.Shares in the company were down 69 cents at C$4.65 in trading on the Toronto Stock Exchange on Wednesday.Companies in this story: (TSX:K)last_img read more

800 customers without power near Chetwynd

first_imgCHETWYND, B.C. – Over 800 customer are without power in Chetwynd and Moberly Lake.A motor vehicle caused Hydro customers to lose power at approximately 4:17 a.m. Monday and may not be back on until 12:30 p.m.  Hydro lists the outage as affecting customers north of Campbell Way in Chetwynd.For updates on the power outage, visit www.bchydro.com/outageslast_img